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The Enhanced Pension Plan, Coming Soon to a Mailbox Near You
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<blockquote data-quote="Bamboozled" data-source="post: 1122250" data-attributes="member: 46335"><p>It's one thing to the change pension rules on younger people who have enough time to financially plan for it, its another to hurt people who have 25+ years and are too old to make up the difference. </p><p></p><p>You are told for years what your pension is with the calculator and that you can leave at 55. Now there are rumors they want to change it right before the finish line? Unacceptable . It is too "Enron-Like". When you are promised one thing and then at the end, given another, the Law calls that "Bait and Switch" or "Theft By Deception". If anything like this happens the law might not be on thier side.</p><p></p><p>The powers that be should lead by example and start by cutting thier own benefits. All we see is they take from us and give to themselves in the form of stock and dividends. </p><p></p><p>Its bad enough our pensions are considerably lower than the Teamsters and Mechanics Union, now they want us to work to 59? Some of us have been here right out of high school it's like a death sentence. If it were to happen it needs to include a formula with years of service. If you started at 19, early retirement at 59 would be with 40 years.</p><p></p><p>It seems sometimes rumors are started to either see what the reaction is, or to give a worst case scenario so when the real truth comes out its not as bad. </p><p></p><p>I actually heard a similar rumor about 6 months ago, but the cut off date was 1965 and after, which would make more sense because how can you tell someone who is 50 with 31 years you have to work 9 more years?</p></blockquote><p></p>
[QUOTE="Bamboozled, post: 1122250, member: 46335"] It's one thing to the change pension rules on younger people who have enough time to financially plan for it, its another to hurt people who have 25+ years and are too old to make up the difference. You are told for years what your pension is with the calculator and that you can leave at 55. Now there are rumors they want to change it right before the finish line? Unacceptable . It is too "Enron-Like". When you are promised one thing and then at the end, given another, the Law calls that "Bait and Switch" or "Theft By Deception". If anything like this happens the law might not be on thier side. The powers that be should lead by example and start by cutting thier own benefits. All we see is they take from us and give to themselves in the form of stock and dividends. Its bad enough our pensions are considerably lower than the Teamsters and Mechanics Union, now they want us to work to 59? Some of us have been here right out of high school it's like a death sentence. If it were to happen it needs to include a formula with years of service. If you started at 19, early retirement at 59 would be with 40 years. It seems sometimes rumors are started to either see what the reaction is, or to give a worst case scenario so when the real truth comes out its not as bad. I actually heard a similar rumor about 6 months ago, but the cut off date was 1965 and after, which would make more sense because how can you tell someone who is 50 with 31 years you have to work 9 more years? [/QUOTE]
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